1855-S $20 SSCA (1855-S Double Eagle SS Central America) PCGS MS63 CAC. This lustrous, Western branch mint 1855-S Double Eagle, with the provenance of the ill-fated Central America, is a solid, mint state coin confirmed by CAC. The CAC designation means that the coin meets stringent standards for quality within the grade. This specimen is the second finest of this variety at PCGS. The fresh, appealing look is attributed to the well preserved surfaces and the quality of the strike. Full details are seen on the centers of the obverse stars and all the design elements of the reverse. The mark that appears over the eagles neck and the top of the shield is on the holder not the coin. Bright mint luster, which gleams on both sides of this piece adds to its appeal.

Until the discovery of the S.S. Central America, 1850s double eagles in gem condition were virtually unavailable. The ship, originally called the S.S. George Law, was a United States mail steamship. In 1857 it sank off the coast of the Carolinas because of a huge hurricane. It was a three-mast, side-wheel steamship that traveled between Panama and New York. The journey took approximately 21 days. In the five years prior to its sinking, it has been estimated that the Central America carried about $150 million worth of gold or one-third of all of the gold mined in California. The ship was 272 feet long and had 578 passengers and crew on board. It also had on board over 35,000 pieces of mail and gold bars, nuggets, dust, and 5200 newly minted San Francisco gold coins from the West. The loss of the Central America triggered the Panic of 1857, which was caused by bank instability and generally poor economic conditions.

In 1985, the Columbus-America Discovery Group raised ten million dollars and began to search for the wreck. They found it at a depth of 8,500 feet off the coast of South Carolina. It is estimated that the total coins, ingots, and gold bars were worth more than one hundred million dollars.

The 1855-S double eagle is a Type 1 Liberty Head. The Type 1s were made from 1849 to 1866 and are different from Type 2s in that they lack the motto IN GOD WE TRUST. Designed by James B. Longacre, the obverse shows Liberty in profile facing left wearing a coronet inscribed LIBERTY, with her hair tied tightly in the back. Two curls flow down the back and side of her neck. She is surrounded by thirteen stars with the dated below. Dentils are near the edge on both sides of the coin. The reverse of the double eagle shows a heraldic eagle with elaborate ribbons on both sides of the shield extending from the top corner down to the eagles tail feathers. The ribbons are inscribed, on the left E PLURIBUS and UNUM on the right. The ribbons were added to the design to symbolize the denomination since this was the first twenty dollar double eagle coin. There is an oval of thirteen stars above the eagles head and an arc of rays from wing tip to wing tip behind the upper half of the oval. UNITED STATES OF AMERICA is in an arc above the eagle, and the denomination TWENTY D. is below. The mint mark is between the tail feathers and the N of TWENTY.

The double eagle was authorized by Congress in 1849 because of the large discoveries of gold in California. Large quantities of gold were coming into the Mint for conversion into coinage. It was felt that a double eagle would greatly facilitate large domestic or international transactions. At a weight of 33.44 grams, they would be comparable to several gold coinages in use in Latin America.

Mint Director Robert Patterson tried to use this new coinage bill as an excuse to terminate James Longacre as the Engraver because of political and other differences. The Chief Coiner, Franklin Peale, with Pattersons approval and help, was making medals on the side. Patterson was afraid that Longacre would interfere in Peales profitable business. Therefore, Peale would not cooperate with Longacre; however, Longacre prevailed and was able to retain his position and complete the dies for the double eagle coins. Longacres double eagle design was a new concept that endured well past the turn of the century. Peale was probably responsible for some blundered dies that Longacre was criticized for making, and in 1854 Peale was fired. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the Two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollars, the Three dollar gold piece, and, the Liberty Head double eagle.

The San Francisco Mint opened in 1854 because of the need to coin gold resulting from the California Gold Rush. In the West there was an abundance of gold bullion, nuggets and dust; however, there was also an acute shortage of circulating coinage. Congress authorized this mint to relive the shortage and coin silver and gold and because transportation of bullion to Philadelphia was time consuming and hazardous. Because of its proximity to the Gold Rush area, San Francisco was chosen as the site of the new mint. In 1874 it moved into a new building now called the Old United States Mint or the Granite Lady. It is one of the few structures that survived the earthquake of 1906. It remained in service as a mint until 1938, when the present facility opened.

In its population report, PCGS shows this 1855-S, Broken A, Full E, coin tied for second finest with 6 others in MS63 with 2 better. At CAC as of December 2011, there are only 2 with none better.